Substantially Completed. If Landlord is unable to deliver the Premises to Tenant by August 1, 1998, then Tenant shall be entitled to receive from Landlord the amount of Five Thousand Dollars ($5,000) per day for the first fifteen (15) days beyond August 1, 1998 that Landlord fails to deliver the Premises (subject to force majeure as provided in Section 19.21) and Ten Thousand Dollars ($10,000) per day for the fifteen (15) days beyond August 15, 1998 that Landlord fails to deliver the Premises (subject to force majeure as provided in Section 19.21) and the Delivery Date shall be deemed to have occurred on such later date. If Landlord fails to deliver the Premises on or before September 1, 1998 subject to extension for force majeure as provided in Section 19.21 of this Lease, then Tenant shall, as Tenant's sole and exclusive remedy, have the option to terminate this Lease by delivering written notice ("Termination Note") to Landlord. If Tenant accepts delivery of the Premises, then Tenant shall be deemed to have waived its right to terminate the Lease as provided for under this Section 1.3. Notwithstanding anything herein to the contrary, in the event Landlord tenders possession of the Premises to Tenant in a substantially completed condition during that period of time from October 1, 1998 through and including November 30, 1998 (the "Non- Acceptance Period"), then, Tenant shall have the right not to accept possession of the Premises during such period by notifying Landlord, within five (5) days of the tender of possession of the Premises to Tenant, in which case the Commencement Date shall not occur until December 1, 1998.
Appears in 2 contracts
Sources: Lease Agreement (Petco Animal Supplies Inc), Lease Agreement (Petco Animal Supplies Inc)
Substantially Completed. If Landlord is unable to deliver the Premises to Tenant by August 1, 1998, then Tenant shall be entitled to receive from Landlord the amount of Five Thousand Dollars ($5,000) per day for the first fifteen (15) days beyond August 1, 1998 that Landlord fails to deliver the Premises (subject to force majeure as provided in Section 19.21) and Ten Thousand Dollars ($10,000) per day for the fifteen (15) days beyond August 15, 1998 that Landlord fails to deliver the Premises (subject to force majeure as provided in Section 19.21) and the Delivery Date shall be deemed to have occurred on such later date. If Landlord fails to deliver the Premises on or before September 1, 1998 subject to extension for force majeure as provided in Section 19.21 of this Lease, then Tenant shall, as Tenant's sole and exclusive remedy, have the option to terminate this Lease by delivering written notice ("Termination Note") to Landlord. If Tenant accepts delivery of the Premises, then Tenant shall be deemed to have waived its right to terminate the Lease as provided for under this Section 1.3. Notwithstanding anything herein to the contrary, in the event Landlord tenders possession of the Premises to Tenant in a substantially completed condition during that period of time from October 1, 1998 through and including November 30, 1998 (the "Non- Non-Acceptance Period"), then, Tenant shall have the right not to accept possession of the Premises during such period by notifying Landlord, within five (5) days of the tender of possession of the Premises to Tenant, in which case the Commencement Date shall not occur until December 1, 1998.
Appears in 1 contract